HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #19075
Date: 03/26/2026
Commission Meeting Date: 04/23/2026
Requesting Department: Department of
Housing and Community Development
Sponsored By: Miguel Gabela
District Impacted: District 1
Type: Resolution
Subject: Rescind and Replace Reso No.R-25-0525 - 1500 NW 12 AVE - Gallery at
Wagner Creek
Purpose of Item:
AUTHORIZE RESCIND AND REPLACE RESOLUTION No. R-25-0525, ADOPTED ON
DECEMBER 11, 2025 TO UPDATE THE SOURCE OF FUNDS AS MIAMI FOREVER BONDS
FOR THE FINANCING OF THE GALLERY AT WAGNER CREEK PROJECT IN ORDER TO
ACCURATELY REFLECT THE PROPER MIAMI FOREVER BONDS ALLOCATED TO THE
PROJECT.
Background of Item:
On March 14, 2019, pursuant to Resolution Nos. R-19-0062 and R-19-0111, the City
Commission authorized the initiation of validation proceedings for the November 7, 2017 Bond
Referendum ("Voter Referendum") and the issuance of the City's taxable and tax-exempt bonds
in the aggregate principal amount not exceeding Four Hundred Million Dollars
($400,000,000.00) in one or more separate series of City Tax -Exempt and Taxable Limited Ad
Valorem Tax Bonds (collectively, "Miami Forever Bonds"), including tax-exempt and taxable
bonds in one or more separate series not exceeding One Hundred Million Dollars
($100,000,000.00) for affordable housing and economic development capital projects
("Affordable Housing and Economic Development Bonds") of which an amount not to exceed
Fifteen Million Dollars ($15,000,000.00) was proposed for the first Declaration of Intent to
Reimburse.
The City's Housing and Commercial Loan Committee ("HCLC") has set forth certain terms and
conditions set forth in the attached and incorporated collective Memoranda during three
(collectively, "HCLC Terms and Conditions for Gallery at Wagner Creek Project Reimbursement
Basis Funding") for City affordable housing funding, on a reimbursement basis, to be considered
and allocated for specific affordable housing components of a 27-story mixed use commercial
and residential complex to be located at 1500 Northwest 12 Avenue and to be known as
"Gallery at Wagner Creek" to be developed by Gallery at Wagner Creek, LLC, a Florida limited
liability company ("Developer"), which project participated in the City's pipeline affordable
housing projects continuing requests for proposals as presented to HCLC.
The Developer has requested and the City Commission has determined that it is in the best
interests of the City to authorize and direct the City Manager, upon the fulfillment by the
Developer of all of the terms and conditions set forth in the HCLC Terms and Conditions for
Gallery at Wagner Creek Project Reimbursement Basis Funding, attached and incorporated in
Composite Exhibit "A", to fund, on a reimbursement basis, an amount not to exceed Four Million
Eight Hundred Forty Eight Thousand Eighty Dollars ($4,848,080.00) from Miami Forever Bonds
for the affordable housing components of the Gallery at Wagner Creek Project being developed
by the Developer.
Such allocations shall comply with all applicable Federal, State of Florida ("State"), Miami -Dade
County ("County"), and City laws, rules, and regulations for affordable housing projects,
including but not limited to the City's Housing Miami Forever Bonds Projects Strategies, the
Miami Forever Bond Validation Order, the Charter of the City of Miami, Florida, as amended
("City Charter"), and the Code of the City of Miami, Florida, as amended ("City Code")
(collectively, "Laws")
Resolution R-25-0525 is rescinded and replaced to update the source of funds as Miami
Forever Bonds for the financing of the Gallery at Wagner Creek Project in order to accurately
reflect the proper Miami Forever Bonds allocated to the Project.
Budget Impact Analysis
Item is NOT Related to Revenue
Item has NOT an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
Total Fiscal Impact: $4,848,080.00
Department of Housing and Community Development
Review Completed
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the City Clerk
Reviewed B
03/26/2026 12:37 PM
Luis Hernandez -Torres
Marie Gouin
Erica T. Paschal
Natasha Colebrook -Williams
Valentin J Alvarez
Raymond Pereira
Xavier Alban
George K. Wysong III
Nicole Ewan
City Clerk's Office
Victor Turner Department Head
Budget Analyst Review
Budget Review
Assistant City Manager Review
Completed
Completed
Completed
Approved on behalf of the City Manager
Legislative Division Review Completed
ACA Review
Deputy Attorney Review
Approved Form and Correctness
Meeting
Rendered
Completed
Completed
Completed
Completed
Completed
03/27/2026 9:20 AM
03/27/2026 9:42 AM
03/27/2026 11:05 AM
Completed
04/02/2026 3:21 PM
04/13/2026 3:14 PM
04/14/2026 4:02 PM
04/14/2026 4:16 PM
04/23/2026 9:00 AM
04/23/2026 7:23 PM
City of Miami
Legislation
Resolution
Enactment Number: R-26-0184
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 19075 Final Action Date:4/23/2026
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
RESCINDING RESOLUTION NO. R-25-0525, ADOPTED ON DECEMBER 11,
2025, "AUTHORIZING AND DIRECTING THE CITY MANAGER TO ALLOCATE,
UPON THE FULFILLMENT BY GALLERY AT WAGNER CREEK, LLC, A
FLORIDA LIMITED LIABILITY COMPANY ("DEVELOPER"), OF ALL OF THE
TERMS AND CONDITIONS SET FORTH IN THE COLLECTIVE MEMORANDA
TO THE CITY OF MIAMI'S ("CITY") HOUSING AND COMMERCIAL LOAN
COMMITTEE, ATTACHED AND INCORPORATED AS COMPOSITE EXHIBIT
"A," FUNDING ON A REIMBURSEMENT BASIS IN AN AMOUNT NOT TO
EXCEED FOUR MILLION EIGHT HUNDRED FORTY EIGHT THOUSAND
EIGHTY DOLLARS ($4,848,080.00) FROM THE PROPOSED TRANCHE 2
MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD VALOREM BONDS
FOR THE AFFORDABLE HOUSING COMPONENTS OF A 27-STORY, MIXED
USE COMMERCIAL AND RESIDENTIAL PROJECT TO BE LOCATED AT 1500
NORTHWEST 12 AVENUE, TO BE KNOWN AS "GALLERY AT WAGNER
CREEK," BEING DEVELOPED BY THE DEVELOPER; SUCH ALLOCATION TO
BE IN COMPLIANCE WITH ALL APPLICABLE FEDERAL, STATE OF
FLORIDA, LOCAL, AND CITY LAWS, RULES, AND REGULATIONS FOR
AFFORDABLE HOUSING PROJECTS, INCLUDING BUT NOT LIMITED TO
THE CITY'S AFFORDABLE HOUSING BONDS PROJECTS STRATEGIES, THE
TRANCHE 2 AFFORDABLE HOUSING INTENT TO REIMBURSE
RESOLUTION, AND THE TRANCHE 2 MIAMI FOREVER AFFORDABLE
HOUSING LIMITED AD VALOREM BONDS; PROVIDING FOR AN EFFECTIVE
DATE," AND REPLACING IN LIEU THEREOF THIS RESOLUTION
AUTHORIZING AND DIRECTING THE CITY MANAGER TO ALLOCATE, UPON
THE FULFILLMENT BY THE DEVELOPER, OF ALL OF THE TERMS AND
CONDITIONS SET FORTH IN THE COLLECTIVE MEMORANDA TO THE
CITY'S HOUSING AND COMMERCIAL LOAN COMMITTEE, ATTACHED AND
INCORPORATED AS COMPOSITE EXHIBIT "A," FUNDING ON A
REIMBURSEMENT BASIS IN AN AMOUNT NOT TO EXCEED FOUR MILLION,
EIGHT HUNDRED FORTY EIGHT THOUSAND, EIGHTY DOLLARS
($4,848,080.00) FROM THE MIAMI FOREVER BOND ("MFB") PROGRAM FOR
THE AFFORDABLE HOUSING COMPONENTS OF A 27-STORY, MIXED USE
COMMERCIAL AND RESIDENTIAL PROJECT TO BE LOCATED AT 1500
NORTHWEST 12 AVENUE, TO BE KNOWN AS "GALLERY AT WAGNER
CREEK," BEING DEVELOPED BY THE DEVELOPER; SUCH ALLOCATION TO
BE IN COMPLIANCE WITH ALL APPLICABLE FEDERAL, STATE OF
FLORIDA, LOCAL, AND CITY LAWS, RULES, AND REGULATIONS FOR
AFFORDABLE HOUSING PROJECTS, INCLUDING BUT NOT LIMITED TO
THE CITY'S AFFORDABLE HOUSING BONDS PROJECTS STRATEGIES,
AND THE MIAMI FOREVER BOND VALIDATION ORDER.
WHEREAS, on March 14, 2019, pursuant to Resolution Nos. R-19-0062 and R-19-0111,
the City Commission authorized the initiation of validation proceedings for the November 7,
2017 Bond Referendum ("Voter Referendum") and the issuance of the City of Miami's ("City")
taxable and tax-exempt bonds in the aggregate principal amount not exceeding Four Hundred
Million Dollars ($400,000,000.00) in one or more separate series of City Tax -Exempt and
Taxable Limited Ad Valorem Tax Bonds (collectively, "Miami Forever Bonds"), including tax-
exempt and taxable bonds in one or more separate series not exceeding One Hundred Million
Dollars ($100,000,000.00) for affordable housing and economic development capital projects
("Affordable Housing and Economic Development Bonds") of which an amount not to exceed
Fifteen Million Dollars ($15,000,000.00) was proposed for the first Declaration of Intent to
Reimburse; and
WHEREAS, the City's Housing and Commercial Loan Committee ("HCLC") has set forth
certain terms and conditions set forth in the attached and incorporated collective Memoranda
during three (collectively, "HCLC Terms and Conditions for Gallery at Wagner Creek Project
Reimbursement Basis Funding") for City affordable housing funding, on a reimbursement basis,
to be considered and allocated for specific affordable housing components of a 27-story mixed
use commercial and residential complex to be located at 1500 Northwest 12 Avenue and to be
known as "Gallery at Wagner Creek" to be developed by Gallery at Wagner Creek, LLC, a
Florida limited liability company ("Developer"), which project participated in the City's pipeline
affordable housing projects continuing requests for proposals as presented to HCLC; and
WHEREAS, the Developer has requested and the City Commission has determined that
it is in the best interests of the City to authorize and direct the City Manager, upon the fulfillment
by the Developer of all of the terms and conditions set forth in the HCLC Terms and Conditions
for Gallery at Wagner Creek Project Reimbursement Basis Funding, attached and incorporated
in Composite Exhibit "A," to fund, on a reimbursement basis, an amount not to exceed Four
Million, Eight Hundred Forty -Eight Thousand, Eighty Dollars ($4,848,080.00) from Miami
Forever Bonds for the affordable housing components of the Gallery at Wagner Creek Project
being developed by the Developer; and
WHEREAS, such allocations shall comply with all applicable Federal, State of Florida
("State"), Miami -Dade County ("County"), and City laws, rules, and regulations for affordable
housing projects, including but not limited to the City's Housing Miami Forever Bonds Projects
Strategies, the Miami Forever Bond Validation Order, the Charter of the City of Miami, Florida,
as amended ("City Charter"), and the Code of the City of Miami, Florida, as amended ("City
Code") (collectively, "Laws"); and
WHEREAS, Resolution R-25-0525 is rescinded and replaced to update the source of
funds as Miami Forever Bonds for the financing of the Gallery at Wagner Creek Project in order
to accurately reflect the proper Miami Forever Bonds allocated to the Project;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
MIAMI, FLORIDA:
Section 1. Recitals and Findings. The recitals and findings contained in the Preamble to
this Resolution are adopted by reference and incorporated as fully set forth in this Section.
Section 2. The City Commission hereby rescinds Resolution No. R-25-0525 in its
entirety.
Section 3. The City Manager is hereby authorized and directed to allocate, upon the
fulfillment by Developer, of all of the terms and conditions set forth in the collective memoranda
to the City's Housing and Commercial Loan Committee, attached and incorporated as
composite Exhibit "A," funding on a reimbursement basis in an amount not to exceed Four
Million, Eight Hundred Forty -Eight Thousand, Eighty Dollars ($4,848,080.00) from the Miami
Forever Bonds for the affordable housing components of a twenty-seven (27) story, mixed use
commercial and residential project to be located at 1500 Northwest 12 Avenue, to be known as
"Gallery at Wagner Creek," being developed by the Developer; such allocation to be in
compliance with all applicable federal, state of Florida, local, and City laws, rules, and
regulations for affordable housing projects, including but not limited to the City's Affordable
Housing Bonds Projects Strategies, And The Miami Forever Bond Validation Order.
Section 4. The City Manager is directed and authorized' to negotiate and execute the
Loan Agreement and any and all other necessary documents, including, but not limited to,
amendments thereto, all in forms acceptable to the City Attorney and Bond Counsel, for the
obligation of Miami Forever Bonds in an amount not to exceed Four Million, Eight Hundred
Forty -Eight Thousand, Eighty Dollars ($4,848,080.00) to the Developer subject to compliance
with all applicable Laws and for the purposes set forth in this Resolution.
Section 5. The City Commission hereby declares the City's official intent to issue
taxable Miami Forever Affordable Housing Bonds, in one or more series, to the extent
permissible under applicable laws, rules, and regulations regarding the Miami Forever
Affordable Housing Bonds, and use a portion of the Miami Forever Affordable Housing Bonds in
the total amount of Four Million, Eight Hundred Forty -Eight Thousand, Eighty Dollars
($4,848,080.00) to reimburse the City for funds advanced by it for expenditures incurred and to
be incurred with respect to the Project and the purposes stated herein.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
rge = . Wyy ng III, C y ttor -y 4/14/2026